News Summary: Facebook stock up, co. faces suits

The Associated Press

PRICING: Facebook Inc.'s fourth day of trading as a public company saw an increase in the company's stock price, after declines on Monday and Tuesday. The stock climbed $1, or 3.2 percent, to close at $32 on Wednesday.

LAWSUITS: Several shareholders who bought stock in the IPO have filed lawsuits against Facebook, its executives and Morgan Stanley, the IPO's lead underwriter.

THE DISPUTE: At issue is whether analysts at the big underwriter investment banks cut their second-quarter and full-year forecasts for Facebook just before the IPO, and told only a handful of clients about it.